A $1,000 bond, with interest at 9 % on March 1 and September 1, was sold on July 7 at 106 plus accrued interest. Compute the dollar amount of the sale the seller received. (Assume a 360-day year and a commission of $5 per bond.)

Sale Received

The revenue or income received from completed sales transactions.

Accrued Interest

Interest that has been earned but not yet received or paid. It accumulates from one payment period to the next.

Commission

A fee paid to an agent or employee for facilitating a sale or transaction, which is often a percentage of the sale price.